Commercial
for
For Sale
in
Grand Port

Property Description

The Wybrandt Hotel project represents a great opportunity for the discerning investor. The hotel will be the only 3-star facility, a mere ten minutes drive away from the Sir Seewoosagur Ramgoolam International Airport, Republic of Mauritius.

With its strategic location and the type of services which will be available the project is considered a significant development for airline operators. There are hardly any hotels which can cater and provide accommodation for transit passengers in the area. The project has the support of major airline operators who view this as an opportunity to provide great facilities to their passengers and alleviate this particular bottleneck.

Wybrandt Hotel will occupy the second to the fifth floor of Patten Court, a centrally located luxurious commercial building situated in Mahebourg. It will consist of 30-32 bedrooms and each will have an area of approximately 20 to 24 square metres as well as a reception hall, a relaxation area for customers and a business service centre. These facilities will all be on the 2nd, 3rd and 4th floors of the building.The 5th floor will be dedicated to a fine dining restaurant and a conference room.

Parking facilities will also be available for up to 10 vehicles. It should be noted however, that most passenger transfers will be carried out by taxis or coaches. In addition, the hotel offers a wonderful view of the surrounding areas. The magnificent South-East coast of the island is 250m from the building.

MARKET ANALYSIS

According to the Ministry of Tourism, the number of transit passengers has increased from 25,000 to 80,000 between 2006 and 2008.

This has created a significant bottleneck with regards to accommodation in the surrounding area for these passengers who have to travel 25km or more to the nearest hotel.

Wybrandt Hotel aims to address this particular gap in the market by providing accommodation for transit passengers and we have already gained significant support from airline operators as well as travel agencies who would be happy to recommend the hotel to their customers.

Moreover, 20% of tourists visiting Mauritius spend their holidays in the South-East.This is another market which this particular project could tap into.

THE PROMOTERS/CO-OWNERS

José France Reynolds Auroomooga-Patten and Rajamanee Auroomooga-Patten are the Promoters/Co-owners. They intend to sell the project to an Investor willing to bring it to completion.

FINANCIALS

Investors can purchase the existing shares of Wybrandt Company Limited from the current owners for a total of Rs 35,000,000. (EUR 835,000).These shares consist of levels 2 and 3 of Patten Court already completed, the lawful right to construct levels 4 and 5 and a parking space for 10 vehicles.

The cost of construction and realisation of the project (equipments, furniture and fittings) over a 12 month period has been calculated at Rs 50 million, (approximately EUR 1,200,000). The total level of funding required to bring this project to completion is estimated around Rs 78 million (EUR 1,860,000) vat excluded.

The project has already received consent and permits from all necessary parties which are listed below:

• Ministry of Environment and National Development;• Grand Port/Savanne District Council;• Ministry of Health and Quality of Life;• Waste Water Management Authority;• Fire Services;• Ministry of Tourism;• Board of Investment; and• Ministry of Finance and Economic Development

OR

A Business Process Outsourcing Centre

Investors may purchase the existing shares of Wybrandt Company Limited from the current owners for a total of Rs 35,000,000. (EUR 835,000).As mentioned above these shares consist of levels 2 and 3 of Patten Court already completed, the lawful right to construct levels 4 and 5 and a parking space for 10 vehicles. Once the two levels constructed the four levels will cover approximately 17,000 square feet really suitable for a Business Process Outsourcing Centre.